Hi Traders!
There is a potential support break here on the USDJPY 1H chart. There has been a lot of bullish momentum over the past couple of days, and the price action on the chart suggests that the current bullish momentum is possibly running out of steam.
Since the market reached 143.387, the current highs and lows on the chart are getting lower. We are looking for a break and a close below 143.235 to continue going down to our previous range zone, which we have highlighted on the chart. If the marker reaches the previous range zone, the next key level at the previous range zone is 142.704.
If 143.235 does not break, we will most likely stay in this range to wait for a possible new wave of bullish momentum to retest 143.387.
Long-term, we are still bullish on this pair.
Please do not forget to like, follow, and comment.
We appreciate your support.
BluetonaFX
There is a potential support break here on the USDJPY 1H chart. There has been a lot of bullish momentum over the past couple of days, and the price action on the chart suggests that the current bullish momentum is possibly running out of steam.
Since the market reached 143.387, the current highs and lows on the chart are getting lower. We are looking for a break and a close below 143.235 to continue going down to our previous range zone, which we have highlighted on the chart. If the marker reaches the previous range zone, the next key level at the previous range zone is 142.704.
If 143.235 does not break, we will most likely stay in this range to wait for a possible new wave of bullish momentum to retest 143.387.
Long-term, we are still bullish on this pair.
Please do not forget to like, follow, and comment.
We appreciate your support.
BluetonaFX
